Colorado Pte Ltd commenced its first non-structural renovation works in accounting year 2017 at the cost of $120,000 and incurred a further $70,000 in accounting year 2018. In accounting year 2019, it upgraded its reception area and spent $250,000 on non-structural renovation costs. What is the amount deductible under Section 14Q in Year of Assessment 2020? Group of answer choices a) $100,000 b) $36,667 c) $116,667 d) $70,000
Colorado Pte Ltd commenced its first non-structural renovation works in accounting year 2017 at the cost of $120,000 and incurred a further $70,000 in accounting year 2018. In accounting year 2019, it upgraded its reception area and spent $250,000 on non-structural renovation costs. What is the amount deductible under Section 14Q in Year of Assessment 2020? Group of answer choices a) $100,000 b) $36,667 c) $116,667 d) $70,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Colorado Pte Ltd commenced its first non-structural renovation works in accounting year 2017 at the cost of $120,000 and incurred a further $70,000 in accounting year 2018. In accounting year 2019, it upgraded its reception area and spent $250,000 on non-structural renovation costs.
What is the amount deductible under Section 14Q in Year of Assessment 2020?
What is the amount deductible under Section 14Q in Year of Assessment 2020?
Group of answer choices
a) $100,000
b) $36,667
c) $116,667
d) $70,000
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